The launch of 5G and metaverse applications will change the consumer experience on e-commerce platforms in the coming days, said Falguni Nayar, founder and CEO of beauty and lifestyle retailer Nykaa.

Nayar was speaking after signing an agreement with the Indian Institute of Management Ahmedabad (IIM-A) to establish the ‘Nykaa Chair in Consumer Technology’.

He said that while online purchases have increased since the Covid-19 outbreak, they account for just 10% of purchases of consumer products; almost 90% of consumers still trust offline stores.

A former student of the institute, Nayar said that through the Chair, she seeks to equip students with the fundamental knowledge to build meaningful, knowledge-based business models that use technology to solve consumer needs.

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